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Bloomberg Broadcom Inc. shares tumbled after the chipmaker cut its full-year sales outlook, citing the impact of the trade war between China and the US. While the weaker guidance didn’t come as a shock, the scale of the reduction caught some analysts off guard, and it was seen as further diminishing the idea that semiconductor demand would rebound in the ...

Bloomberg Kier Group Plc plans to cut 1,200 jobs, exit businesses and suspend dividends as the British engineering company struggles to rein in debts piled up during a rapid expansion. Chief Executive Officer Andrew Davies is pulling Kier out of homebuilding and property maintenance to focus on construction of other buildings and infrastructure such as roads and railways. The job ...

Abu Dhabi / WAM Awaidha Murshed Al Marar, Chairman of the Abu Dhabi Department of Energy (DoE), outlined Abu Dhabi’s programme for energy transformation and plans to diversify energy sources and promote renewable energy, at Australian Energy Week 2019, in Melbourne. Addressing more than 500 local and international energy leaders and decision makers, Al Marar also tackled the opportunities and ...

ABU DHABI / WAM Lt. General Hamad Mohammed Thani Al Rumaithi, Chief of Staff of the Armed Forces, on Sunday received Lt. General Koji Yamazaki, Chief of Staff, Joint Staff of the Japan Self-Defence Forces, and his accompanying delegation, who are currently visiting the country. At the meeting, which was held at the General Headquarters of the UAE Armed Forces, ...

London / WAM Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence (AI), stated that the UAE is a global model in adopting AI in government work, as well as in its future strategies, along with key sectors and government services which will improve the community’s quality of life. He made this statement while participating in the “CogX: ...

Sharjah / WAM The Emirate of Sharjah has witnessed a significant number of achievements in 2019, among them is its ever-growing vibrant cultural scene bringing together Emirati and Arab artists, actors, literary greats and poets. Sharjah’s efforts to bolster the Arab world’s cultural prowess is not tied to a specific geographic location but spans diverse areas to build bridges of ...

Bloomberg Tens of thousands of demonstrators poured into central Hong Kong as organisers remained defiant even after the city’s leader suspended consideration of the China-backed extradition plan that sparked some of the biggest protests in the city in decades. Organisers pressed ahead with a march on Sunday afternoon, following the same route as last week’s demonstration, when hundreds of thousands ...

Bloomberg India has imposed higher customs duties on a raft of US goods on Sunday in response to similar measures taken by Washington, according to a government notice. The increased charges have been imposed on 28 products including chickpeas, phosphoric acid, apples, almonds and walnuts, according to the notice released late on Saturday. The country would get about $217 million ...

Bloomberg Activist investor Dan Loeb disclosed a $1.5 billion stake in Sony Corp. and pushed the company to make dramatic changes, including spinning off its semiconductor business and listing it in Japan. Sony’s shares rose 3.1% in Tokyo after Loeb’s Third Point published a letter and 102-page presentation pushing for changes at the Japanese media and electronics giant, including sales ...

Bloomberg Volkswagen AG valued its heavy-trucks business at as much as $18.6 billion in a planned initial public offering that will test Chief Executive Officer Herbert Diess’s ambition of overhauling the carmaking behemoth. The manufacturer intends to offer stock in Traton SE, which sells MAN and Scania AB vehicles, for between 27 euros to 33 euros per share, it said ...